Squid Games (SQUID Token)
Auto-generated score, not yet verified against the scoring model. Under review — treat as indicative, not a verdict.
anchored·44qAtU…omUsSummary
SQUID was a BEP-20 token on the Binance Smart Chain launched in late October 2021 that exploited the viral popularity of the Netflix series 'Squid Game.' On November 1, 2021, anonymous developers executed a rug pull, draining at least $3.38 million in liquidity and abandoning the project, causing the token price to collapse from a peak of $2,861.80 to effectively zero within minutes. More than 43,000 investors suffered losses, with no arrests made and the perpetrators remaining unidentified as of mid-2026.
Connected Entities
2 entities- + 2 more
Timeline(11 events)
20 October 2021
SQUID token presale begins on Binance Smart Chain.
26 October 2021
Token goes live; CoinDesk reports 35,000% price increase in three days. CoinTelegraph and Finbold flag user inability to sell.
28 October 2021
CNBC reports the token's 2,400% single-day surge; Netflix confirms no affiliation with the project.
29 October 2021
CoinMarketCap adds warning label noting reports that users cannot sell their tokens.
November 2021
Rug pull executed. Token peaks at $2,861.80 at approximately 9:35 AM UTC then collapses to near-zero by 9:40 AM. Developers drain liquidity on PancakeSwap and DODO. 55 deposits made into Tornado Cash. Project website, Twitter, and Telegram go offline. Developers post farewell message claiming stress and alleged hacking attempt.
2 November 2021
Washington Post, CBS News, Gizmodo, and other major outlets confirm the rug pull. Initial estimates of $3.38 million stolen.
3 November 2021
Binance officially announces investigation, designates SQUID a scam, and commits to sharing findings with law enforcement.
4 November 2021
Binance blacklists developer-linked addresses. TRM Labs begins on-chain forensic tracing of stolen funds across BSC and Ethereum.
2022
TRM Labs publishes detailed blockchain forensic analysis estimating total scheme value at 35,025 BNB (~USD 19.3M). Scammers remain unidentified.
June 2022
Investigative journalists trace leads to Hong Kong apartment; learn local police had already visited the location ~6 months prior. No arrests confirmed.
27 December 2024
Launch of Netflix Squid Game Season 2 triggers new wave of SQUID copycat scam tokens on Base, Solana, and Ethereum. One Base-chain token collapses 99% within hours.
Decision Log
- hash: C4AcyNZEL4DzZunKNTMm14X796rNEjoX9k7B7oB5D6cz
This investigation is cryptographically anchored to the Solana blockchain (1 event). 26 of 29 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:53 AM
last updated: 9/1/2026, 4:16:57 AM
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